Dobbs Ford At Wolfchase ripoff sold vehicle trade with $2400 rims before allowing buyer to remove Memphis Tennessee

In 2008, I went to the Dobbs Ford at the Mount Moriah Location to purchase a used car. I had called ahead of time and the salesman told me it was a sure thing since I knew my credit score and that if anything would only have to put $1,000.00 down. ( I later found out with my credit score which was a 699 I shouldn't have had to put anything down.)

Anyway, I showed up and saw the car and agreed to buy it. As I was talking to the salesman I just so happened to mention to him that I had $2,000.00 on me without even thinking. I was super young and stupid. He looked at me and said "one moment" and went to the back and stayed for about 30 minutes. He came back out and said they were having difficulty finding a lender and that the only lender they could find required me to put down everything in my pocket which was $2,000.00.

I put the 2 grand down. Then when I was called to the back to do the paperwork I was shocked at such a high interest rate. The finance manager told me that they had found a blemish on my report from years ago and that the lender chose that rate.

They were LYING. When I signed the papers and went home I called the lender a few days later and the lender had no clue how much I put down or even if I had put down a down payment. I asked the lender what was my interest rate and they told me what it was and it was several percentage points LOWER than what was on my contract.

I went back to the dealership and when the Finance manager found out I had him caught redhanded in a lie he explained that they wouldn't make any money if everyone came in with financing from credit unions and banks and that the ONLY way they get to really cut a profit is when people come to the dealership seeking financing from the dealerhip. He says the downpayments go directly to the dealership as profit and that the dealerships are allowed to push up the interest rate after the finance company agrees on a rate.

He stated they get a residual payment off of that rate increase everytime you make your payments. Apparently the finance company allows them to do this so they will be on the shortlist to get called.

I was shocked.

I have never bought from a used car dealer (or new car dealer) since. I drive a 2008 Honda Civic I paid $4,000.00 cash from an African man who had a dealers license. He told me that the dealers would buy that car and want about $3000.00 down (if not more) and put a person on payments for years instead of selling it at an increase to see a profit.

DOBBS FORD IS A RIPOFF!

I agree with you partially Chris. Pulling the wheels prior to trading it in would have been the best option, but that evidentally wasn't an option at the time. The dealer made a verbal agreement with these folks that they could exchange the wheels at a later time. This would be called "LYING" and constitutes "FRAUD" in a court of law. "FRAUD" is still "ILLEGAL" in this state. Roquita, you need to hire an attorney and sue their *&^%$ off! Don't go after them criminally. Take them to civil court.

Sound like DOBBS FORD AT WOLFCHASE are a bunch of typical crooked used car salesmen. I'll spread the word.

Roquita got slammed because she and hubby should have pulled the rims prior to the trade. Once the contract/trade in document was signed the old car with rims was the dealers in full. The dealer knew this and made a decent profit from it. If the sales contract did not specify trade in less custom rims brand XX size XX to be removed by customer then chalk it up to experience. If the contract did specify this then she has a potential small claims court case.